Robinhood Launches Crypto DCA Feature As Competition Intensifies

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As fintech apps are more and more competing for crypto customers, US on-line buying and selling platform Robinhood has introduced it’s rolling out crypto recurring investments. It will allow its customers to purchase cryptoassets frequently, commission-free and beginning at USD 1 on a each day, weekly, biweekly, or month-to-month schedule.

Robinhood said that its characteristic permits customers to pursue a method to develop their bitcoin (BTC), ethereum (ETH), dogecoin (DOGE), and different holdings over time, all of the whereas probably decreasing the influence of market volatility.

“The crypto markets could be unstable because of the nature of the business. Investing on a recurring foundation might help you deal with long-term development, cut back danger, and cut back the stress of timing the markets. This is a method referred to within the business as dollar-cost averaging,” the platform stated. 

Dollar-cost averaging, or DCA for brief, is the method of dividing up an funding in a sequence of smaller purchases unfold out over time, somewhat than going into an funding with a bigger quantity at one time.

Another benefit to implementing such a method was associated to the platform’s commission-free supply, designed to lure clients away from its competitors.

“Many different crypto buying and selling platforms cost a fee payment as much as 4% for every crypto commerce,” the corporate stated, including that “at Robinhood, in the event you place an order and spend USD 100 to purchase bitcoin, you’ll get USD 100 value of bitcoin.”

Robinhood is just not the primary platform to supply such a characteristic to its customers, with opponents such because the UK-based Revolut additionally offering the recurring purchase performance to its clients.

The newest improvement offers one more proof that main fintechs are stepping up their sport in an effort to entice new clients from the cryptosphere. 
Learn extra: 
– Set and Forget: Top Auto-DCA Services in Bitcoin 
– This Is Why Robinhood Doesn’t Allow You to Withdraw Bitcoin, DOGE & Co. 

– Robinhood Gets USD 70M Penalty Due To ‘Signigificant Harm’
– Fintech Heavyweights Revolut, Robinhood Gun for More Crypto Gains 

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